Housing Prices Stabilizing in Phoenix Area

There have been several articles in the Arizona Republic lately regarding reports on the housing market. It looks like we will hit the price bottom for houses sometime this spring and may have already hit it for foreclosures. Here are a few quotes and some links to the articles.

This article goes on to say that foreclosures may have already hit the point where prices are the same as last year and no longer declining. This fits what we are seeing the housing market. There are fewer foreclosures out there and prices are very similar to last year. There are now more short sales on the market than there were a year ago.